Fuel Management System Market SWOT Analysis Of Top Key Player Forecasts To 2023

Fuel Management System Market: Overview

The increasing demand for energy and increasing fuel prices has led us to think about the need of monitoring and controlling our fuel consumption. These two factors have together created a demand for the fuel management system market all over the world. The fuel management system enables to control and monitor the fuel consumption in transportation industry, including roads, railways, and water and air transportation. These fuel management systems are designed to effectively manage and measure consumption, thereby, allowing to control usage and save extra money. These systems are basically used for the fleets of vehicles that may even include railway vehicles and aircrafts. These systems, thus, provide us with an effective measure to monitor our fuel consumption by generating data for the purpose of optimizing fuel inventories, fuel dispense and fuel purchases. The fuel management system tracks the amount of pumped fuel for the purpose of onsite storage management.

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Fuel Management System Market: Segmentation

The fuel management system market can be segmented on the basis of technology, generation and location of major fuel management systems around the world. On the basis of technology, the fuel management systems can be classified into card based fuel management systems, onsite fuel management systems, and the total fuel management systems. Among these, the card based fuel management systems monitor the fuel transaction based on driver’s unique pin and fueling credit card.

The onsite fuel management system tracks the fuel when it is pumped into the vehicles and, thus, allows the monitoring of the fuel storage levels. The total fuel management systems use the combination of the card based management systems and the onsite fuel management systems to monitor and optimize the fuel consumption levels.

Based on the generations, the fuel management systems have been classified in to five generations. The first generation fuel management systems were the oldest systems, based on the manual recording methods, for identifying the fuel consumption. The second generation fuel management was equipped with the microprocessor to manage the fuel usage. The third generation systems were similar to the second generation systems, except in the way that they were permanently or periodically connected to the personal computer. The fourth generation fuel management systems were connected to an internet based server for real time data management. The fifth generation fuel management systems are the most advanced class of fuel management systems that have the capability to perform the intelligent supervisory functions and automatic report generation.

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Fuel Management System Market: Region-wise Outlook

The regional segmentation of the fuel management system market can be done by identifying the major oil consuming nations, where the possibility and requirement of fuel management is present. The major countries include the United States and Canada in the North America; Russia, France, Germany, the United Kingdom and Italy in the Europe; China, Japan, India, Australia and South Korea in the Asia Pacific; South Africa, Iran, Iraq and Brazil in the Rest of World.

The increase in the fuel prices, reduction in the wastage of oil and gas, need for inventory management, increasing number of fuel stations and vehicles are the major drivers to the fuel management system market. However, the additional cost involved with the installation of fuel management systems is the major restraint to the market. The increasing awareness among users about the benefits of fuel management systems, especially, in the major oil consuming nations in the Asia Pacific region, can act as an opportunity to the fuel management systems market.

The major players in the fuel management system market are: Omnitracs, LLC, E-Drive Technology, The Veeder-Root Company and ESI Total Fuel Management.
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